The only remedy you have is to sign up for the school's refund plan. It typically acts like insurance in the event that your child withdraws before end of year. The insurance plan will pay for the unused/remaining portion of your child's time at the school. You contracted to pay for an entire year when you signed the contract with the school at the time she was accepted. You do not want to be out of pocket. Neither does the school. This is why tuition refund insurance is an important part of your planning for a private school education. Tuition refund policies are in place at every private school regardless of whether it is day or boarding, large or small, elementary/nursery school or high school.
St. Mary's policy is the sort of thing you can expect at most schools:
"To minimize the loss to a family due to early departure or change in boarding status, Saint Mary’s School has established a Refund Plan. Under ordinary circumstances, the Refund Plan...
So, what's happening here? Why are these highly competitive schools offering a free education to children from families with incomes below $75,000? Simply because they want to make their excellent educations available to a wider constituency. When tuition and expenses creep into the $45,000 range, it means that only a tiny percentage of American families can afford to attend those schools. Schooling has to be free in order to attract students from families making less than $75,000.
- Pay the fees in two installments.
- Sign up with a tuition payment service and pay monthly installments.
- Borrow the funds you need.
- Apply for financial aid.
- Investigate other funding sources.
Pay the fees in two instalments.
The way these plans work is that you in effect are borrowing from them. You borrow one year's tuition fees and incidentals. Then you repay in equal installments, generally 10 installments. The plan in turn pays the school on the tuition due dates. This is a good payment option if you need to spread the payments over several months.
Your school supply list will depend on what grade you are going in and what school you go to. Each school has their own way of doing things. Sometimes, schools will charge a supply fee and provide the student with most everything they need. Sometimes, schools will ask for items that become "communal" property (i.e. computer paper, tissue boxes, and even pencils). More than likely, the private school student will be asked to bring in their personal school supplies which they will use the ensuing year.
The purpose of this article is to give you a preview of what the typical private school supplies list will be like, provide shopping tips and give you our favorite online school supplies shopping sources. Our example supply lists are broken down: one for elementary students and one for high school students. Remember to check with your school for their actual list before you start shopping.
At the elementary school level more so than at the high school level, supplies can end up as "communal" in nature, since students tend to...